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Agreement and the Department of Housing and Urban Development HOME Investment <br />Partnership Act Program Regulations. <br />In addition to the HOME Compliance Period, the Agency agrees that, upon completion of <br />the HOME Compliance Period,_the HOME -Assisted Units shall be designated "City - <br />Assisted Units" and shall remain affordable in accordance with this Covenant Agreement <br />until September 30, 2055. The time between October 1, 2030 and September 30, 2055 <br />is the "City Compliance Period". <br />During the City Compliance Period, the seven residential units, including one (1) two - <br />bedroom unit and six (6) three -bedroom units in the Property, shall be affordable to <br />households at 50% AMI. The maximum monthly rent and the tenant household income <br />limits for the City -Assisted Units shall be established annually by the Agency subject to <br />the reasonable approval by the City, and such rent and income limits will be similar to or <br />the same as the rents and income limits that would be then -applicable to HOME assisted <br />units for Very Low Income households or equivalent. <br />3. The last section of the Covenant Agreement is amended as follows, with <br />underlined text added: <br />If the Agency violates any of the foregoing covenants, and fails to correct the violation for <br />a period of thirty (30) calendar days, or such additional time as may be reasonably <br />necessary to cure the violation, after Agency's receipt of written notice of such violation <br />from the County or the City, the County or the City may institute and prosecute any <br />proceeding at law or equity to abate, prevent, or enjoin any such violation or to compel <br />specific performance by the Agency of its obligations hereunder; PROVIDED that the <br />Agency shall not be required by any provision herein to evict a residential tenant. No delay <br />in enforcing the provisions hereof as to any breach or violation shall impair, damage, or <br />waive the right of any party entitled to enforce the provisions hereof or to obtain relief <br />against or recover for the continuation or repetition of such breach or violations or any <br />similar breach or violation hereof at any later time. <br />4. Section 1.G of the Loan Agreement and Exhibit A of the Loan Agreement <br />are each amended by adding the following: <br />In addition to the HOME Program Compliance Period, the Agency agrees that, upon <br />completion of the HOME Program Compliance Period, the HOME -Assisted Units shall be <br />designated "City -Assisted Units" and shall remain affordable in accordance with this <br />Loan Agreement until September 30, 2055. The time between October 1, 2030 and <br />September 30, 2055 is the "City Compliance Period". <br />During the City Compliance Period, the seven residential units, including one (1) two - <br />bedroom unit and six (6) three -bedroom units in the Property, shall be affordable to <br />households at 50% AMI. The maximum monthly rent and the tenant household income <br />limits for the City -Assisted Units shall be established annually by the Agency subject to <br />the reasonable approval by the City, and such rent and income limits will be similar to or <br />the same as the rents and income limits that would be then -applicable to HOME assisted <br />units for Very Low Income households or equivalent. <br />Omnibus Amendment <br />Page2of8 <br />